tailieunhanh - How I made 2 million dollars in the stock market Chapter 4

Chapter 4 Depeloping the box theory. After my fritening experience with Jones and Laughlin, and my more fortunate experience with Texas Gulf Producing, I sat down to assess my position | CHAPTER FOUR Developing the Box Theory my frightening experience with jones laughlin and my more fortunate experience with Texas gulf producing I sat down to assess my position. By now I had been scared and beaten by the market enough to appreciate that I should not regard the stock market as a mysterious machine from which if I were lucky fortunes could be extracted like the jackpot in a slot machine. I realized that although there is an element of chance in every field in life I could not base my operations on luck. I could be lucky once maybe twice but not constantly. No this was not for me. I must rely on knowledge. I must learn how to operate in the market. Could I win at bridge without knowing the rules Or in a chess game without knowing how to answer my opponent s moves In the same way how 47 HOW I MADE 2 000 000 IN THE STOCK MARKET could I expect to succeed in the market without learning how to trade I was playing for money and the game in the market was against the keenest experts. I could not play against them and expect to win without learning the fundamentals of the game. And so I started. First I examined my past experiences. On one hand using the fundamental approach I was wrong. On the other hand using the technical approach I was right. Obviously the best method was to try to repeat the successful approach I had used with texas gulf producing. It was not easy. I sat with my stock tables for hours each evening trying to find another stock like it. Then one day I noticed a stock called m m wood working. None of the financial information services could tell me anything much about it. My broker had never heard of it. Yet I remained obstinately interested because its daily action reminded me of Texas gulf producing. I started to watch it carefully. In December 1955 the stock rose from about 15 to 23 at the year end. After a five-week lull its trading volume increased and its price resumed its advance. I decided to buy 500 shares at 26 . It continued to .

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